Inspire Arts and Music Inc

Analysis

Inspire Arts and Music Inc is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in April 1991, 35 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Inspire Arts and Music Inc reported income of $4.3m and spending of $4.5m, spending 105% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.7m to $4.3m (+15%), an average of +3.6% a year. The sharpest change came in the year to September 2021, when income rose by 99%. Over the whole period it spent 95% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Inspire Arts and Music Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 90th percentile within MA. Charities of a similar size with the same main cause include The Dennelisse Corp ($4.3m), Stevens Center ($4.3m) and De LA Salle Education Center ($4.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 57% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $326k (7.3% of expenses). Other salaries and wages came to $717k. At year end it held assets of $3.3m against liabilities of $2.1m, net assets of $1.2m. It reported 26 employees.